Company registration number 14635668 (England and Wales)
BEHAVIOUR INTERACTIVE UK HOLDING LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
BEHAVIOUR INTERACTIVE UK HOLDING LIMITED
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Statement of cash flows
3
Notes to the financial statements
4 - 7
BEHAVIOUR INTERACTIVE UK HOLDING LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2023
30 September 2023
- 1 -
2023
Notes
£
£
Non-current assets
Investments
3
6,170,493
Current assets
Trade and other receivables
5
1
Net current assets
1
Net assets
6,170,494
Equity
Called up share capital
6
6,001
Share premium account
7
6,164,493
Total equity
6,170,494
The directors of the company have elected not to include a copy of the income statement within the financial statements.
For the financial period ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 29 February 2024 and are signed on its behalf by:
R Racine
Director
Company registration number 14635668 (England and Wales)
BEHAVIOUR INTERACTIVE UK HOLDING LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
- 2 -
Share capital
Share premium account
Total
Notes
£
£
£
Balance at 2 February 2023
-
-
-
Period ended 30 September 2023:
Transactions with owners:
Issue of share capital
6
6,001
6,164,493
6,170,494
Balance at 30 September 2023
6,001
6,164,493
6,170,494
BEHAVIOUR INTERACTIVE UK HOLDING LIMITED
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
- 3 -
2023
Notes
£
£
Cash flows from operating activities
Cash absorbed by operations
10
(1)
Net cash outflow from operating activities
(1)
Investing activities
Purchase of subsidiaries
(6,170,493)
Net cash used in investing activities
(6,170,493)
Financing activities
Proceeds from issue of shares
6,170,494
Net cash generated from/(used in) financing activities
6,170,494
Net increase in cash and cash equivalents
-
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
BEHAVIOUR INTERACTIVE UK HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
- 4 -
1
Accounting policies
Company information
Behaviour Interactive UK Holding Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 New Street Square, London, United Kingdon, EC4A 3TW. The company's principal activities and nature of its operations are disclosed in the directors' report.
1.1
Accounting convention
The financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted for use in the United Kingdom and with those parts of the Companies Act 2006 applicable to companies reporting under IFRS, except as otherwise stated.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The directors have at the time of approving the financial statements, a reasonable expectation that the truecompany has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Non-current investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.4
Financial assets
Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets are classified into specified categories, depending on the nature and purpose of the financial assets.
At initial recognition, financial assets classified as fair value through profit and loss are measured at fair value and any transaction costs are recognised in profit or loss. Financial assets not classified as fair value through profit and loss are initially measured at fair value plus transaction costs.
Financial assets held at amortised cost
Financial instruments are classified as financial assets measured at amortised cost where the objective is to hold these assets in order to collect contractual cash flows, and the contractual cash flows are solely payments of principal and interest. They arise principally from the provision of goods and services to customers (eg trade receivables). They are initially recognised at fair value plus transaction costs directly attributable to their acquisition or issue, and are subsequently carried at amortised cost using the effective interest rate method, less provision for impairment where necessary.
BEHAVIOUR INTERACTIVE UK HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 5 -
Impairment of financial assets
Financial assets carried at amortised cost and FVOCI are assessed for indicators of impairment at each reporting end date.
The expected credit losses associated with these assets are estimated on a forward-looking basis. A broad range of information is considered when assessing credit risk and measuring expected credit losses, including past events, current conditions, and reasonable and supportable forecasts that affect the expected collectability of the future cash flows of the instrument.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.
Other financial liabilities
Other financial liabilities, including borrowings, trade payables and other short-term monetary liabilities, are initially measured at fair value net of transaction costs directly attributable to the issuance of the financial liability. They are subsequently measured at amortised cost using the effective interest method. For the purposes of each financial liability, interest expense includes initial transaction costs and any premium payable on redemption, as well as any interest or coupon payable while the liability is outstanding.
Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company’s obligations are discharged, cancelled, or they expire.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
Number
2
3
Investments
Current
Non-current
2023
2023
£
£
Investments in subsidiaries
-
6,170,493
Fair value of financial assets carried at amortised cost
The directors consider that the carrying amounts of financial assets carried at amortised cost in the financial statements approximate to their fair values.
BEHAVIOUR INTERACTIVE UK HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
3
Investments
(Continued)
- 6 -
Movements in non-current investments
Shares in subsidiaries
£
Cost or valuation
At 2 February 2023
-
Additions
6,170,493
At 30 September 2023
6,170,493
Carrying amount
At 30 September 2023
6,170,493
4
Subsidiaries
Details of the company's subsidiaries at 30 September 2023 are as follows:
Name of undertaking
Registered office
Principal activities
Class of
% Held
shares held
Direct
Behaviour Interactive UK Limited
United Kingdom
Software development
Ordinary
100.00
5
Trade and other receivables
2023
£
Amount owed by parent undertaking
1
6
Share capital
2023
2023
Ordinary share capital
Number
£
Issued and fully paid
Ordinary of £1 each
6,001
6,001
7
Share premium account
2023
£
At the beginning of the period
-
Issue of new shares
6,164,493
At the end of the period
6,164,493
8
Related party transactions
BEHAVIOUR INTERACTIVE UK HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
8
Related party transactions
(Continued)
- 7 -
During the period, the company received from its parent, shares in what is now the company's subsidiary to the value of £6,170,493. This was as consideration for 6000 of the company's shares. There were no amounts due at the period end in relation to this transaction.
9
Controlling party
The parent company of Behaviour Interactive UK Holding Limited is Behaviour Interactive Inc and its registered office is 500-6666 Saint-Urbain, Montreal, QC H2S 3H1, Canada.
10
Cash absorbed by operations
2023
£
Movements in working capital:
Increase in trade and other receivables
(1)
Cash absorbed by operations
(1)
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